TRX Gold Announces Passing of Founder and Chairman James E. Sinclair
TRX Gold Announces Passing of Founder and Chairman James E. Sinclair
TORONTO, Oct. 09, 2023 -- TRX Gold Corporation (TSX: TNX) (NYSE American: TRX) (the “Company” or “TRX Gold”) is deeply
saddened to announce the passing of its founder and Chairman James E. Sinclair on October 6, 2023, at the age 82. James
passed away peacefully at home in Connecticut, U.S.A.
James founded TRX Gold and acted as Chairman and Director since 2000. His belief in Tanzania as a gold-rich landscape, in
the ability and talent of the region’s people, and the openness of Tanzanian government to foreign investors, formed the basis
for his perseverance in unlocking the Buckreef Gold Project’s potential. Until his final moments, James acted as a supporter,
mentor and point of reference.
“This is a great loss and moment of sadness for all of us at TRX Gold and the Buckreef Gold Project. On behalf of the
Company and its Board of Directors, we wish to offer Mr. Sinclair's family our sincerest condolences. James was always
positive and forward-looking and was excited by the trajectory of the Company. He was a tenacious, hard driving individual who
challenged everyone around him to move forward and be better. We will continue to build on our current successes and his
substantial legacy,” explains Stephen Mullowney, TRX Gold Chief Executive Officer.
To those outside of the Company, James was perhaps best known as “Mr. Gold”, being a true believer in the value of gold and
its ability to generate and preserve wealth. He is remembered for boldly and accurately predicting that the price of gold would
rise from $150 per troy ounce to $900 per troy ounce, between 1977 and 1980. He led a successful career as a precious
metals specialist, market maker, and commodities and foreign currency trader. He was the original founder and explorer of the
Bulyanhulu mine through Sutton Resources, which is one of the most productive gold mines in Tanzania to this day. He was a
notable author and commentator on topics such as precious metals, trading strategies, geopolitical events and global
markets. Incredibly, through the ups and downs of the financial markets, his audience has remained faithful over the last two
decades and more.
His memory lives on with more than 500 TRX Gold and Buckreef Gold employees and contractors on two continents, as well
as the countless individuals he touched through his work around the world.
About TRX Gold Corporation
TRX Gold is rapidly advancing the Buckreef Gold Project. Anchored by a Mineral Resource published in May 2020, the project
currently hosts an NI 43-101 Measured and Indicated Mineral Resource of 35.88 MT at 1.77 g/t gold containing 2,036,280
ounces of gold and an Inferred Mineral Resource of 17.8 MT at 1.11 g/t gold for 635,540 ounces of gold. The leadership team is
focused on creating both near-term and long-term shareholder value by increasing gold production to generate positive cash
flow. The positive cash flow will be utilized for exploratory drilling with the goal of increasing the current gold Resource base
and advancing the Sulphide Ore Project which represents 90% of current gold Resources. TRX Gold’s actions are led by the
highest ESG standards, evidenced by the relationships and programs that the Company has developed during its nearly two
decades of presence in Geita Region, Tanzania.
For investor or shareholder inquiries, please contact:
Investors Relations
Christina Lalli
Vice President, Investor Relations
TRX Gold Corporation
+1-438-399-8665
www.TRXgold.com
The TSX and NYSE America have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents
of this press release, which has been prepared by the management of TRX Gold.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cf7952dc-28c8-491b-a809-15a2dd0761d6